Getting a coin listed on the major exchanges around the globe often counts as one of the major approval gestures towards acceptance. And it doesn’t get bigger than landing your coin to the pinnacle of exchanges Coinbase. This site has come to be considered as the last hurdle for any coin wishing to be taken as a serious project.
It’s become a fixation sort of, with speculation after speculation claiming that this or that coin is about to be added. Prices have been known to skyrocket immediately coins get on a major exchange. For example, ZCash ballooned by nearly 50% in the middle of a bear market after being added to Gemini earlier this week. Its trading volumes jumped nearly 300% in just 24 hours.
Ripple (XRP) has tried to get listed before to no avail. TRON (TRX), on the other hand, has been rumored to be on the verge of getting listed. While these rumors and speculations have been dashed by Coinbase’ assertions that no coin is about to be listed, signs are that something could be about to change. Ripple really wants to get listed, but could the opportunity pass-by it again? Remember Bitcoin Cash getting the nod?
It’s against this background that we ask if there are reasons that could see TRON (TRX) added to the site ahead of Ripple (XRP).
Coinbase prepares for high trading volume (and profit)
It’s no secret that Coinbase is a profit-making venture, as revealed by their internal valuation of $8 billion. So, they simply can’t go on ignoring some of the more promising coins, especially with sites like Robinhood and Binance posing an imminent threat. Among the initial parameters considered when looking at a coin for listing is its potential for trading volumes. Usually, such assets will have a large market cap and an expanding community of investors.
Coinbase recognizes itself as a market leader in cryptocurrency exchanges, and one way to keep that position is to provide the consumers what they want. Revelations that the site has hired more staff and revamped its platform points to the imminent addition of a high volume coin and TRON (TRX) fits the bill of what kind of coin they are willing to add.
According to one Reddit user, “TRX has consistently huge volume, high liquidity, and massive social media presence and will launch its mainnet with more registered users than any other cryptocurrency platform.”
Feng Li and the TRON-Coinbase connection
There’s no direct connection between the two platforms, but speculation has been going around about on Feng Li. It’s speculated that he is an early investor in both Coinbase and TRON. Although unconfirmed, such connections are only adding to the possibility that TRX would be added before XRP.
The rumor that Feng Li could be a factor in this quest first surfaced from a tweet by one Virtual Crypto Traders who said:
“#Rumor is that Coinbase can list #TRX. It should be noted that one of Tron’s key investors is Feng Li. Why is this important? Well.. in 2011, as a partner with venture capital firm IDG, Li became the very first investor in Coinbase with $100,000 in seed funding.”
An article from 2013 names “Feng Li, the IDG partner who chose to fund Coinbase” further providing evidence that the rumor has some weight. Several accounts put Li at both TRON and Litecoin, his influence seen as enough to persuade the exchange to add TRX.
TRX office strategically opened in New York
This in itself may not mean much, but what has been “observed” to be the main reason is pointing towards Coinbase. Justin Sun may have indicated that they were definitely getting an office in New York, yet it has been revealed that TRON has been “pushing hard” over last month to be added to at least three exchanges. These are Coinbase/GDAX, Circle, and Gemini.
The team from TRX has been “aggressive but professional” in trying to get their asset added to the site. This contrasts with the allegations of money being offered by Ripple. The professional approach, coupled with other factors could actually get TRX on Coinbase ahead of Ripple (XRP).
Whether these assertions and speculations have anything in them is something we can only tell in the fullness of time. One sure thing is that TRON (TRX) will launch their Mainnet end of May and it could be double joy for investors if that were followed up by a listing on Coinbase.
Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!